CHARITABLE PURPOSE ::
Last updated: 19 December 2007
Court :
HC
Brief :
Held by the Hon`ble Bench that the fact is that the society is engaged in an object of public utility and is not covered by the provision of section 13(1)(bb),thus the trust shall be entitled to exemption u/s 11 as the profit from the business is solely applied for the charitable purpose of the trust.
Citation :
Samaj Kalyan Parishad Vs. ITO
Charitable Purpose
Samaj Kalyan Parishad Vs. ITO
01/12/2007
[2007] 291 ITR (AT) 1(Delhi)[SB]
Case Fact:
Whether in case profit earned by a society, engaged in establishment and maintenance of children`s homes, libraries etc, from a business carried with profit motive and used for the charitable purpose will be entitled for exemption u/s 11?
Decision:
Held by the Hon`ble Bench that the fact is that the society is engaged in an object of public utility and is not covered by the provision of section 13(1)(bb),thus the trust shall be entitled to exemption u/s 11 as the profit from the business is solely applied for the charitable purpose of the trust.
CA.Saibaburao Nanduri
Published in Income Tax
Views : 49
Comments
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
